1 EXHIBIT 11 PACE MEDICAL, INC. AND WHOLLY-OWNED SUBSIDIARY STATEMENT RE COMPUTATION OF PER SHARE EARNINGS - -------------------------------------------------------------------------------- FOR THE THREE MONTHS FOR THE SIX MONTHS ENDED JUNE 30 ENDED JUNE 30 -------------------- ----------------------- 1997 1996 1997 1996 ---- ---- ---- ---- CALCULATION OF PRIMARY EARNINGS PER SHARE Net Income $ 173,290 $ 71,181 $ 249,782 $ 202,206 ---------- ---------- ---------- ---------- Number of shares: Weighted average shares outstanding 3,400,850 3,394,183 3,400,850 3,390,850 Incremental shares for outstanding stock options and warrants 160,615 253,206 167,343 207,291 ---------- ---------- ---------- ---------- Total shares outstanding for purpose of earnings per share computation 3,561,465 3,647,389 3,568,193 3,598,141 ---------- ---------- ---------- ---------- Income per share as calculated $ .05 $ .02 $ .07 $ .06 ---------- ---------- ---------- ---------- CALCULATION OF FULLY DILUTED EARNINGS PER SHARE Net Income $ 173,290 $ 71,181 $ 249,782 $ 202,206 ---------- ---------- ---------- ---------- Number of shares: Weighted average shares outstanding 3,400,850 3,394,183 3,400,850 3,390,850 Incremental shares for outstanding stock options and warrants 160,615 253,206 167,343 207,291 ---------- ---------- ---------- ---------- Total shares outstanding for purpose of earnings per share computation 3,561,465 3,647,389 3,568,193 3,598,141 ---------- ---------- ---------- ---------- Income per share as calculated $ .05 $ .02 $ .07 $ .06 ---------- ---------- ---------- ---------- -12-